Key Insights
The India Foundry Market, valued at ₹19.46 billion in 2025, is poised for robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 10.30% from 2025 to 2033. This expansion is driven by several key factors. The burgeoning automotive sector, particularly the increasing demand for passenger vehicles and commercial transportation, significantly fuels the need for castings in engine blocks, transmission components, and chassis parts. Furthermore, the construction industry's steady growth contributes to the demand for cast iron pipes, fittings, and other infrastructure components. Government initiatives promoting infrastructure development and "Make in India" further bolster market prospects. Growth in renewable energy, particularly wind and solar power, also creates demand for foundry products in turbines and other related equipment. Competitive pricing from domestic manufacturers and a skilled workforce provide a further advantage.
However, the market faces certain challenges. Fluctuations in raw material prices, especially iron ore and steel, impact profitability. Stringent environmental regulations regarding emissions and waste disposal necessitate increased investment in cleaner technologies. The foundry industry also faces challenges related to labor shortages and skilled workforce retention, requiring targeted investments in training and upskilling. Despite these constraints, the overall positive outlook for the Indian economy and the continued growth of key end-user industries suggest a promising future for the India Foundry Market, with substantial opportunities for both established players like A Cast Foundry, Aditya Birla Management Corp Pvt Ltd, and Brakes India Pvt Ltd, and emerging companies. The market's segmentation (while not explicitly provided) likely includes various casting types (e.g., iron, steel, aluminum), applications (automotive, construction, industrial machinery), and geographical regions.

India Foundry Market Report: 2019-2033 Forecast
This comprehensive report provides an in-depth analysis of the India Foundry Market, offering crucial insights for stakeholders, investors, and industry professionals. With a study period spanning 2019-2033, a base year of 2025, and a forecast period of 2025-2033, this report leverages extensive data from the historical period (2019-2024) to predict future market trends. The report features detailed analysis across various segments, key players, and market dynamics, providing a holistic view of this dynamic industry. Expected market value in Million is used throughout.
India Foundry Market Market Structure & Competitive Landscape
The India Foundry Market exhibits a moderately concentrated structure, with a few large players holding significant market share. However, the presence of numerous smaller and medium-sized enterprises (SMEs) contributes to a competitive landscape. Innovation drivers include advancements in casting technologies (e.g., investment casting, 3D printing), and the increasing demand for lightweight and high-strength materials across various industries. Regulatory impacts, primarily from environmental regulations and labor laws, influence operational costs and production methods. Product substitutes include plastics and composites, posing a challenge to traditional foundry products. The end-user segmentation is broad, encompassing automotive, construction, machinery, and aerospace sectors. M&A activity is moderate, with strategic acquisitions aimed at expanding product portfolios, geographical reach, and technological capabilities.
- Market Concentration Ratio (CR4): xx% (Estimated)
- Average M&A deal value (2019-2024): xx Million (Estimated)
- Key M&A Trends: Consolidation among larger players, expansion into niche segments.
India Foundry Market Market Trends & Opportunities
The India Foundry Market is experiencing robust growth, driven by expanding industrialization, infrastructure development, and increasing demand from key sectors. The market size is projected to reach xx Million by 2033, exhibiting a Compound Annual Growth Rate (CAGR) of xx% during the forecast period. Technological advancements, such as automation and digitalization in foundry processes, are improving efficiency and productivity. Consumer preferences are shifting towards lightweight, high-performance castings, which is driving innovation in materials and manufacturing techniques. Competitive dynamics are characterized by intense price competition, technological advancements, and strategic partnerships. Market penetration rates are varying across different end-use sectors, with the automotive sector currently leading the demand. Specific opportunities lie in catering to emerging sectors like renewable energy and aerospace.

Dominant Markets & Segments in India Foundry Market
The automotive sector currently dominates the Indian foundry market, accounting for an estimated xx% of total demand. This dominance stems from the rapid growth of the Indian automotive industry and increasing vehicle production. Other significant segments include construction, machinery, and aerospace. The Southern and Western regions of India are currently the leading markets due to robust industrial activity and established manufacturing hubs.
- Key Growth Drivers (Automotive Sector):
- Expanding automobile production.
- Rising demand for light-weight vehicles.
- Government initiatives to promote domestic manufacturing.
- Key Growth Drivers (Construction Sector):
- Large-scale infrastructure development projects (e.g., roads, railways, housing).
- Government investment in infrastructure spending.
- Key Growth Drivers (Machinery Sector):
- Industrialization and expansion of manufacturing base.
- Demand for high-precision castings for industrial machinery.
India Foundry Market Product Analysis
The Indian foundry market offers a wide range of products, including grey iron, ductile iron, steel castings, and aluminum castings. Significant product innovations involve the use of advanced materials, improved casting processes, and enhanced surface treatments to meet stringent quality requirements. These advancements are aimed at improving the performance, durability, and cost-effectiveness of the final products. The market demonstrates a strong fit for products that cater to the evolving needs of the automotive and industrial sectors.
Key Drivers, Barriers & Challenges in India Foundry Market
Key Drivers: Increased industrialization, government initiatives promoting "Make in India," rising demand from automotive and construction sectors, and technological advancements in casting processes.
Challenges: Stringent environmental regulations leading to increased compliance costs (estimated at xx Million annually for compliance measures), fluctuating raw material prices impacting profitability (raw material price volatility causing a xx% fluctuation in production costs in 2024), skilled labor shortages (estimated skill gap impacting xx% of foundry production in 2024), and intense competition from imports (imports account for an estimated xx% of the market).
Growth Drivers in the India Foundry Market Market
The growth of the Indian foundry market is fueled by significant investments in infrastructure development, the expansion of the automotive and manufacturing sectors, and government policies promoting industrial growth. Technological advancements, such as automation and digitalization, are improving productivity and efficiency. The adoption of sustainable manufacturing practices is also becoming a key growth driver.
Challenges Impacting India Foundry Market Growth
The Indian foundry market faces challenges such as stringent environmental regulations, increasing raw material costs, and a shortage of skilled labor. Competition from imported castings and fluctuations in global demand also impact growth. Supply chain disruptions and the rising cost of energy are additional obstacles.
Key Players Shaping the India Foundry Market Market
- A Cast Foundry
- Aditya Birla Management Corp Pvt Ltd
- Brakes India Pvt Ltd
- CALMET
- JSW STEEL Ltd
- Larsen and Toubro Ltd
- Ashok Iron Works Pvt Ltd
- Gujarat Metal Cast Industries Pvt Ltd
- Electrosteel Castings Ltd
- Menon and Menod Ltd
Significant India Foundry Market Industry Milestones
- September 2023: Kirloskar Ferrous Industries Limited (KFIL) acquired Oliver Engineering Pvt. Ltd., expanding its casting capacity by 28,000 MT per annum.
- February 2023: Hindustan Aeronautics Limited and Bharat Forge Limited signed an MoU for developing aerospace-grade steel alloys, signifying growth in the aerospace segment.
- January 2023: Bharat Forge Ltd's subsidiary acquired Indo Shell Mould Ltd.'s SEZ unit, strengthening its presence in the casting sector.
Future Outlook for India Foundry Market Market
The India Foundry Market is poised for continued growth, driven by sustained industrial expansion, infrastructure projects, and technological advancements. Strategic investments in automation and sustainable practices will be key to enhancing competitiveness. The market offers significant opportunities for players who can leverage technological innovation, cater to the evolving needs of end-users, and navigate the challenges related to regulatory compliance and supply chain management. The projected market size for 2033 indicates substantial growth potential.
India Foundry Market Segmentation
-
1. End-user
- 1.1. Automotive
- 1.2. Electrical and Construction
- 1.3. Industrial Machinery
- 1.4. Other End-Users
-
2. Type
- 2.1. Gray Iron Casting
- 2.2. Non-ferrous Casting
- 2.3. Ductile Iron Casting
- 2.4. Steel Casting
- 2.5. Malleable Casting
India Foundry Market Segmentation By Geography
- 1. India

India Foundry Market REPORT HIGHLIGHTS
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 10.30% from 2019-2033 |
Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. 4.; Increasing Focus on Technology Upgrades4.; Formation of Foundry Clusters
- 3.3. Market Restrains
- 3.3.1. 4.; Increasing Focus on Technology Upgrades4.; Formation of Foundry Clusters
- 3.4. Market Trends
- 3.4.1. Growing Automobile Sector is Driving the Foundry Market in India
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. India Foundry Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by End-user
- 5.1.1. Automotive
- 5.1.2. Electrical and Construction
- 5.1.3. Industrial Machinery
- 5.1.4. Other End-Users
- 5.2. Market Analysis, Insights and Forecast - by Type
- 5.2.1. Gray Iron Casting
- 5.2.2. Non-ferrous Casting
- 5.2.3. Ductile Iron Casting
- 5.2.4. Steel Casting
- 5.2.5. Malleable Casting
- 5.3. Market Analysis, Insights and Forecast - by Region
- 5.3.1. India
- 5.1. Market Analysis, Insights and Forecast - by End-user
- 6. Competitive Analysis
- 6.1. Market Share Analysis 2024
- 6.2. Company Profiles
- 6.2.1 A Cast Foundry
- 6.2.1.1. Overview
- 6.2.1.2. Products
- 6.2.1.3. SWOT Analysis
- 6.2.1.4. Recent Developments
- 6.2.1.5. Financials (Based on Availability)
- 6.2.2 Aditya Birla Management Corp Pvt Ltd
- 6.2.2.1. Overview
- 6.2.2.2. Products
- 6.2.2.3. SWOT Analysis
- 6.2.2.4. Recent Developments
- 6.2.2.5. Financials (Based on Availability)
- 6.2.3 Brakes India Pvt Ltd
- 6.2.3.1. Overview
- 6.2.3.2. Products
- 6.2.3.3. SWOT Analysis
- 6.2.3.4. Recent Developments
- 6.2.3.5. Financials (Based on Availability)
- 6.2.4 CALMET
- 6.2.4.1. Overview
- 6.2.4.2. Products
- 6.2.4.3. SWOT Analysis
- 6.2.4.4. Recent Developments
- 6.2.4.5. Financials (Based on Availability)
- 6.2.5 JSW STEEL Ltd
- 6.2.5.1. Overview
- 6.2.5.2. Products
- 6.2.5.3. SWOT Analysis
- 6.2.5.4. Recent Developments
- 6.2.5.5. Financials (Based on Availability)
- 6.2.6 Larsen and Toubro Ltd
- 6.2.6.1. Overview
- 6.2.6.2. Products
- 6.2.6.3. SWOT Analysis
- 6.2.6.4. Recent Developments
- 6.2.6.5. Financials (Based on Availability)
- 6.2.7 Ashok Iron Works Pvt Ltd
- 6.2.7.1. Overview
- 6.2.7.2. Products
- 6.2.7.3. SWOT Analysis
- 6.2.7.4. Recent Developments
- 6.2.7.5. Financials (Based on Availability)
- 6.2.8 Gujarat Metal Cast Industries Pvt Ltd
- 6.2.8.1. Overview
- 6.2.8.2. Products
- 6.2.8.3. SWOT Analysis
- 6.2.8.4. Recent Developments
- 6.2.8.5. Financials (Based on Availability)
- 6.2.9 Electrosteel Castings Ltd
- 6.2.9.1. Overview
- 6.2.9.2. Products
- 6.2.9.3. SWOT Analysis
- 6.2.9.4. Recent Developments
- 6.2.9.5. Financials (Based on Availability)
- 6.2.10 Menon and Menod Ltd **List Not Exhaustive
- 6.2.10.1. Overview
- 6.2.10.2. Products
- 6.2.10.3. SWOT Analysis
- 6.2.10.4. Recent Developments
- 6.2.10.5. Financials (Based on Availability)
- 6.2.1 A Cast Foundry
List of Figures
- Figure 1: India Foundry Market Revenue Breakdown (Million, %) by Product 2024 & 2032
- Figure 2: India Foundry Market Share (%) by Company 2024
List of Tables
- Table 1: India Foundry Market Revenue Million Forecast, by Region 2019 & 2032
- Table 2: India Foundry Market Volume Billion Forecast, by Region 2019 & 2032
- Table 3: India Foundry Market Revenue Million Forecast, by End-user 2019 & 2032
- Table 4: India Foundry Market Volume Billion Forecast, by End-user 2019 & 2032
- Table 5: India Foundry Market Revenue Million Forecast, by Type 2019 & 2032
- Table 6: India Foundry Market Volume Billion Forecast, by Type 2019 & 2032
- Table 7: India Foundry Market Revenue Million Forecast, by Region 2019 & 2032
- Table 8: India Foundry Market Volume Billion Forecast, by Region 2019 & 2032
- Table 9: India Foundry Market Revenue Million Forecast, by End-user 2019 & 2032
- Table 10: India Foundry Market Volume Billion Forecast, by End-user 2019 & 2032
- Table 11: India Foundry Market Revenue Million Forecast, by Type 2019 & 2032
- Table 12: India Foundry Market Volume Billion Forecast, by Type 2019 & 2032
- Table 13: India Foundry Market Revenue Million Forecast, by Country 2019 & 2032
- Table 14: India Foundry Market Volume Billion Forecast, by Country 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the India Foundry Market?
The projected CAGR is approximately 10.30%.
2. Which companies are prominent players in the India Foundry Market?
Key companies in the market include A Cast Foundry, Aditya Birla Management Corp Pvt Ltd, Brakes India Pvt Ltd, CALMET, JSW STEEL Ltd, Larsen and Toubro Ltd, Ashok Iron Works Pvt Ltd, Gujarat Metal Cast Industries Pvt Ltd, Electrosteel Castings Ltd, Menon and Menod Ltd **List Not Exhaustive.
3. What are the main segments of the India Foundry Market?
The market segments include End-user, Type.
4. Can you provide details about the market size?
The market size is estimated to be USD 19.46 Million as of 2022.
5. What are some drivers contributing to market growth?
4.; Increasing Focus on Technology Upgrades4.; Formation of Foundry Clusters.
6. What are the notable trends driving market growth?
Growing Automobile Sector is Driving the Foundry Market in India.
7. Are there any restraints impacting market growth?
4.; Increasing Focus on Technology Upgrades4.; Formation of Foundry Clusters.
8. Can you provide examples of recent developments in the market?
September 2023: Kirloskar Ferrous Industries Limited (KFIL), one of the leading castings and pig iron manufacturers in India, announced the acquisition of Oliver Engineering Pvt. Ltd. Oliver Engineering is engaged in the business of ferrous casting and machining with its manufacturing facility located in Village Sandharsi, Tehsil Rajpura, State Punjab. Its present castings capacity is 28,000 MT per annum. KFIL also produces various grades of pig iron such as SG iron grade, basic steel grade, and foundry grade.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million and volume, measured in Billion.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "India Foundry Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the India Foundry Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the India Foundry Market?
To stay informed about further developments, trends, and reports in the India Foundry Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database



Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations

Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence